He recommends that Laura and her husband sit down with the company or companies that hold the mortgages on the homes and see if those companies would let them forgo some payments while they try to do a fire sale, or refinance at a better interest rate.

Mike says he also thinks they would be wise to seek the advice of an estate-planning attorney or real estate attorney who might be able to help them come up with some different options "to help them preserve assets in the event that it gets really ugly."

"I think the housing market will probably start coming back, but not until next year," Mike says. "But even then, it probably will take years to get to the values we saw two years ago. If they don't have a long-term ability to make the payments and maintain those assets, then they probably should focus on his career and not run completely into the ground."

Another idea is to look around and see if there's anything they can sell, he says. And both Laura and her husband might want to pick up additional, part-time jobs in evenings or on weekends to try to increase their income.

This is tough advice, Mike says, but that's what comes of such a tough situation.

I hope you are able to get out from under those homes, Laura. Please drop me a line and let me know what you decide to do.

If you have financial questions or comments, send them to gkratz@desnews.com or to the Deseret News, P.O. Box 1257, Salt Lake City, UT 84110.

E-MAIL: gkratz@desnews.com